Reported 2 months ago
Paramount Global reported mixed Q2 results with adjusted earnings of $0.54 per share, exceeding analyst expectations of $0.13, while revenue was $6.81 billion, below the $7.24 billion estimate. Notably, the company’s direct-to-consumer segment achieved profitability for the first time, despite a decline in Paramount+ subscribers. Additionally, Paramount took a significant $5.98 billion goodwill impairment charge for its Cable Networks unit, similar to actions taken by competitors.
Source: YAHOO